Dive Brief:
- Pinnacle Foods has terminated its agreement to be acquired by Hillshire Farms, thus clearing the way for Tyson Foods to buy Hillshire.
- Tyson's $7.7 billion bid for Hillshire was dependent upon Pinnacle and Hillshire canceling their $4.3 merger deal.
- Vlasic Pickles和Wish Bone沙拉敷料等品牌制造商Pinnacle现在将从Hillshire收取1.63亿美元的分手费。Pinnacle表示，它将用这笔现金来偿还债务。
潜水见解：
When Hillshire decided it would rather be bought by Tyson than to buy Pinnacle, it put Hillshire into a bit of a pickle with the pickle maker. Pinnacle had an option to accepting the $163 million break-up fee. But it could have instead forced a shareholder vote and delayed the Tyson-Hillshire deal .... unless Hillshire came up with a larger break-up payment.
这就是我们和许多投资者期望的, but it seems that Pinnacle took the high road.
